Reclassifying XRP as a commodity could reshape regulatory frameworks, 
influencing future crypto asset classifications and market dynamics.
The post SEC considers classifying XRP as commodity in settlement talks with 
Ripple appeared first on Crypto Briefing.

SEC considers classifying XRP as commodity in settlement talks with Ripple

Circle, the creator of stablecoin USDC (USDC), announced on March 13 plans to 
bring its Hashnote Tokenized Money Market Fund (TMMF) under Bermuda regulatory 
oversight through the company&#8217;s existing Digital Assets Business Act (DABA) 
license.
Hashnote, which Circle acquired in January 2025, is the issuer of USDY, the 
largest tokenized treasury and money market fund with a total value locked 
(TVL) of $900 million, according to DefiLlama. The fund&#8217;s TVL has fallen from 
$1.9 billion as of Jan. 7.
_Hashnote USYC TVL over time. Source:__DefiLlama_
 _**Related:**__**Wall Street is betting on $30T RWA tokenization market 
prospects**_
According to the announcement, Circle intends to fully integrate USDY with 
USDC, which would allow for access between the TMMF and the stablecoin. The 
company believes that this will make USDY &#8220;the preferred form&#8221; of yield- 
bearing collateral on crypto exchanges, including for custodians and brokers.
According to Freeman Law, Bermuda enacted one of the first legal and 
regulatory frameworks for governing digital assets. Circle was the first firm 
in crypto to receive a license under the Bermuda Monetary Authority in 
September 2021. Bermuda&#8217;s Digital Assets Business Act currently permits three 
types of licenses for companies conducting business under the Act.
## Tokenized RWAs a &#8220;$30-trillion opportunity&#8221;
In August 2024, Colin Butler, Polygon&#8217;s head of institutional capital, said 
that tokenized real-world assets (RWAs) are a $30-trillion market opportunity 
globally. He believed that the push would likely come from high-net-worth 
individuals who will allocate money to alternative assets as tokenization 
creates liquidity in previously illiquid markets.
Also, in August 2024, it was predicted that tokenized US Treasurys would 
surpass a $3 billion market capitalization by the end of 2024. According to 
RWA.xyz, the tokenized US Treasurys market cap sits at $4.2 billion at the 
time of this writing. Hashnote is the No. 2 protocol for tokenized US 
Treasurys, according to the platform, although its market cap has fallen 21% 
in the past 30 days.
_**Related:**__**Infrastructure for legally viable RWA tokenization: AMA recap 
with Mantra**_
The overall market cap for RWAs surpassed $15.2 billion at the end of 2024, 
driven largely by institutional players who piloted tokenization projects 
related to a host of real-world goods, including real estate, gold, diamonds 
and carbon credits. The market cap initially reclaimed an all-time high of 
$17.1 billion on Feb. 3 but has since gone even further, rising to $18.1 
billion at the time of this writing.
Tokenization is changing different areas of finance, including creating 
liquidity for illiquid assets and leveraging the blockchain to facilitate 
transparent and efficient transactions. It isn&#8217;t limited to a single type of 
asset, which gives the technology broader use cases.
_**Magazine:**__**Tokenizing music royalties as NFTs could help the next 
Taylor Swift**_

Circle plans to bring $900M money market fund under DABA license

Ethereum price continued its strong downward trend against the US dollar and 
Bitcoin as its linear weekly futures moved into backwardation. Ethereum (ETH) 
crashed to 0.023 against Bitcoin (BTC), its lowest level since May 2020 and 
74% below its highest…

Ethereum price futures slip into backwardation, BTC in contango: Kraken

”Everything is Computer” the meme that exploded on X, formerly Twitter, after 
President Donald Trump&#8217;s comment on Tuesday, has spawned a new memecoin. 
Everything is Computer, the new memecoin that has its origin in a wild meme 
swirling on social…

‘Everything is Computer’ meme spawns new memecoin

Robinhood has listed memecoins Pengu (PENGU), Pnut (PNUT) and Popcat (POPCAT) 
as the online brokerage doubles down on cryptocurrency trading, it said on 
March 13.
The listings mark Robinhood&#8217;s latest effort to expand its crypto offerings and 
compete with incumbent exchange Coinbase.
Memecoin trading has become a key battleground as rival exchanges &#8212; including 
Coinbase and Binance.US &#8212; accelerate new coin listings after US President 
Donald Trump&#8217;s November election win.
_Robinhood listed new memecoins. Source:__Robinhood_
 _**Related:**__**Robinhood tips Singapore launch, touts memecoin interest: 
Report**_
## Strong demand
In February, Robinhood Crypto said its customers had shown strong demand for 
more memecoin trading options.
In addition to its newly launched coins, Robinhood lists Dogecoin (DOGE), the 
largest memecoin by market capitalization. It also launched crypto futures 
trading in January.
&#8220;We don&#8217;t want to make decisions for the customer but if customers are asking 
for something and we feel like we have a way to offer it safely, we will do 
it,&#8221; Johann Kerbrat, Robinhood Crypto&#8217;s vice president and general manager, 
reportedly told Bloomberg.
Robinhood, best known as a stock trading platform, has been investing heavily 
in crypto products since last year.
In February, the online brokerage reported a 700% year-over-year jump in 
crypto revenues.
Trump&#8217;s election win and rising market prices fueled across-the-board 
increases in crypto trading in the fourth quarter of 2024.
_Robinhood &#8216;s change in trading volumes for equities, options contracts and 
crypto. Source: __Robinhood_
## **Regulatory reversal**
Trump &#8212; who has promised to make America the &#8220;world&#8217;s crypto capital&#8221; &#8212; has 
appointed industry-friendly leadership to key regulatory positions.
In February, the US Securities and Exchange Commission said most memecoins do 
not qualify as securities and thus do not fall under the regulators&#8217; 
jurisdiction.
This was a stark reversal from its stance under Joe Biden&#8217;s administration 
when former SEC Chair Gary Gensler said he thought most cryptocurrencies 
constituted securities.
The same month, the agency dropped an enforcement action against Robinhood for 
alleged securities law violations tied to its crypto trading platform.
_**X Hall of Flame:**__**Memecoins will die and DeFi will rise again &#8212; Sasha 
Ivanov**_

Cryptocurrency price in KWD